Thursday's Personal Finance stories

What is way in the back of your refrigerator? Is it edible? Is it even identifiable? Whatever it is, you are likely going to throw it away. And with it will go a piece of your grocery budget that you'll never recover.

It is not just meat-packing plants and spinach fields that can harbor food dangers. It is your own kitchen. That makes it tempting to just chuck the whole idea of trying to buy and store more than a few days of supplies in favor of carry-out and ready-made dinners. But that won't help either your pocketbook or your waistline.

So if you want to get the most out of your food, and that means both nutritionally and financially, it pays to review food-safety rules once in a while so you know what not to eat -- and what may be perfectly delicious even after a year in the deep freeze.

In our lead story, senior columnist Marshall Loeb reviews food-safety rules and tells you just how long those eggs in the cooler door will last. Read his Daily Money Tip, plus learn from Jennifer Openshaw how you can protect more of your bank deposits and see how homeowners are more likely to undertake conservation efforts if their neighbors are doing the same, on Thursday's Personal Finance pages.

Eating frugal and eating right don't have to be mutually exclusive. But creating that balance does take some effort: There is no drive-through window for it.

Steve Kerch, assistant managing editor/personal finance

CONSUMER WATCH

Getting the most out of your food, nutritionally and financially

No, it's not your imagination. Eating well really is getting more expensive. Consider: a gallon of milk and a dozen eggs can easily run you more than $7 in New York City. A McDonald's Egg McMuffin, by contrast, will cost you in the neighborhood of $2 -- and save you the trouble of cooking and cleaning. If you're on a strict budget, but determined to maintain a healthy diet, don't throw away any food before its time. Consumer Reports' Shop Smart magazine offers a brief primer on food safety and shelf life for those who want to get the most out of their food: See Marshall Loeb's Daily Money Tip.

More funds for product watchdog on the table

The federal consumer products watchdog sorely needs the higher funding that lawmakers have proposed to protect children and adults, advocates will tell Senators at a Thursday hearing. See full story.

Proposals to reform 401(k) fees, investment strategies spark debate

As Congress considers mandating greater fee disclosure for 401(k) and other retirement plans, groups representing plan sponsors and others interested in shaping the debate are girding for a tough fight. See Mutual Understanding.

BANKING

The 15-minute tip: More ways to protect deposits

Many more of you responded to my Sept. 19 column on how FDIC insurance works to cover time deposits, and how to extend that coverage to cover sums larger than $100,000. Good questions, good ideas, good feedback -- as I like to see in the Millionaire Zone. So I thought I'd take the dialog "15 minutes" further with at least one more good way to extend FDIC coverage on large sums. And -- as many of you wondered -- is similar coverage available for mutual funds, investment accounts, retirement accounts and the like? The answer: basically none. I'll cover that too. See Jennifer Openshaw.

Top Senate and House Democrats pressed for more aid to subprime-mortgage borrowers on Wednesday, saying more funding is needed to prevent foreclosures and urging that caps on the portfolios of mortgage-buyers Fannie Mae and Freddie Mac be lifted and other steps taken. See full story.

Homeowners more likely to conserve energy if neighbors do

Even the smallest efforts to conserve energy make a difference. Whether it's reusing towels, saving gasoline by driving hybrid cars or just turning off the TV when leaving a room, simple actions yield results. Questions, however, do arise when it comes to getting Americans to actually engage in such energy-saving behaviors. But that problem may be closer than ever to an answer, thanks to simple psychology. In the battle to get Americans to conserve energy, one researcher has found, it seems a most unlikely tactic works best: peer pressure. See full story.

Something new under the sun

When Bill and Margaret Oliver decided to take the plunge into solar energy earlier this year, the retired Long Beach, Calif., couple searched for months to find someone who could install 35 newfangled solar panels atop their three-bedroom home. Despite the hassles -- and though the panels cost them $39,000, after government rebates -- the Olivers say they're ecstatic to be escaping power bills that had soared to almost $400 a month. The panels contain a relatively new technology for the home called "photovoltaic cells," which convert direct sunlight into electricity. With the installation complete, their latest monthly bill totaled just $1.34. See story from WSJ.com.

U.S. mortgage rates drop slightly

Long-term mortgage rates eased this week, following consecutive weeks of increases, Freddie Mac's chief economist said on Thursday. The 30-year fixed-rate mortgage averaged 6.37% for the week ending Oct. 3, down from its 6.42% average last week, according to Freddie Mac's weekly survey. The mortgage averaged 6.30% a year ago. See Mortgages.

Home-price outlook takes another hit

The outlook for house prices is getting even gloomier as traders on the Chicago Mercantile Exchange bet on steep price declines and the number of homes for sale grows. See full story.

INVESTING

The case for knowing your fund's directors

Investors typically don't pay much attention to the directors who oversee mutual funds. But as fund boards come under increased scrutiny, they probably should. See full story.

Funds that do right by investors

Laura Lutton, senior fund analyst at Morningstar Inc., says that investors looking to find funds they can hold for the long haul should look past simple performance measures to consider how well the fund "cares for investor capital." Listen to Audio Report.

Nasdaq launches ETF market

ETFs have been playing the role of star in the investment world, so it should come as no surprise that exchanges are rolling out the red carpet instead of merely laying out a welcome mat. Nasdaq Stock Market Inc. on Thursday said it's launched the Nasdaq ETF Market, designed specifically for exchange-traded funds and other index-linked investments. See ETF Focus.

HEALTH CARE

DNA decoding maps mainstream future

The price of reading a person's genome is plummeting, raising hope for new medical discoveries and cures. It cost the Human Genome Project $3 billion to extract the first complete genetic blueprint, which was completed in 2003. Now four companies are racing to bring the cost to below $10,000. At that price, it may become more common for patients to have their genes sequenced for medical tests. See full story.

FDA may ease prescription-drug rules

The Food and Drug Administration may establish a "behind the counter" system allowing more drugs that currently require a prescription to be sold without one. See full story.

J&J psoriasis drug shows promise in study

An experimental Johnson & Johnson drug substantially reduced the severity of the inflammatory skin disorder psoriasis, according to a new study. See full story.

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